The 137th Special Operations Wing's MC-12W mission is to provide light tactical manned intelligence, surveillance, and reconnaissance to US Special Operations Command. This unique aircraft enhances US Special Operations Command's capability to project US military presence worldwide. The wing also boasts unique capabilities supporting US Air Force's Air Mobility Command with the 137 Aeromedical Evacuation Squadron providing global medical airlift for America's injured or wounded; and Air Combat Command with the 146th Air Support Operations Squadron providing Tactical Air Control Parties to various US Army Infantry Brigade Combat Teams.

The 137th was activated as the 137th Fighter-Bomber Wing on 26 October 1950 during the Korean War. It was the headquarters for the federalized 137th Fighter-Bomber Group and newly formed support units under the wing base organization system. The wing was assigned to Tactical Air Command, with the 137th Air Base Group, 137th Maintenance and Supply Group and the 137th Medical Group also assigned. The 137th was programmed to reinforce USAFE and be moved to Chaumont-Semoutiers Air Base, France, one of the new air bases in France that was then under construction.

By 27 November, the wing assembled at Alexandria Municipal Airport, Louisiana, for conversion training in the newer Republic F-84 Thunderjets. Deployment of the wing was delayed, however, by the need to transfer pilots to Korea from training and delays in receiving engines for the F-84Gs, as well as the ongoing construction at Chaumont Air Base. Training and delays continued throughout 1951. Due to the delays, many of the activated National Guard airmen were released from active duty and never deployed to France.

With mostly regular Air Force personnel and all the delays behind them, the remaining Guardsmen departed Louisiana on 5 May 1952 for Europe; however, the 137th inherited a base that was little more than acres of mud where wheat fields used to be. The only hardened facilities at Chaumont were a concrete runway and a handful of tar-paper shacks. The 137th was stationed by USAFE at Neubiberg Air Base, West Germany until the facilities in France were suitable for military use. The aircraft arrived at Chaumont on 25 June, being the first USAF tactical air fighters to be based permanently in France, albeit working mostly in tents and temporary wooden buildings on their new base.

The 137th was inactivated on 10 July 1952 and its personnel, mission and equipment were transferred to the 48th Fighter-Bomber Wing, which was activated the same day at Chaumont. The wing was allotted to the Oklahoma Air National Guard, which activated it the same day at Will Rogers World Airport.

In 1955 the Oklahoma Air National Guard was redesignated '137th Fighter-Interceptor Wing and given a fighter-interceptor mission with Air Defense Command (ADC) becoming its gaining command.

The 185th was designated a Fighter-Interceptor Squadron, and equipped with F-86D Sabre Interceptors. Their F-80s were transferred to the civilian Federal Aviation Administration (FAA) for various experimental testing activities. With the Fighter-Interceptor mission assignment, the 185th also assumed ADC runway alert program on full 24-hour basis. This brought the 137th into the daily combat operational program of the USAF, placing us on "the end of the runway" alongside regular USAF Air Defense Fighter Squadrons. On 1 August 1957, the squadrons of its 137th Fighter Group were expanded into groups as Fighter Groups (Air Defense) and the wing became the 137th Air Defense Wing, modeling its organization on that of ADC. In June 1959 the squadron traded their F-86Ds for the upgraded F-86L Sabre Interceptor with uprated afterburning engines and new electronics.

In April 1961, the 137th was reassigned to Military Air Transport Service as the 137th Air Transport Wing, trading in its Sabre interceptors for 4-engined Boeing C-97 Stratofreighter transports. The wing augmented MATS airlift capability worldwide in support of the Air Force’s needs. Throughout the 1960s, the 125th flew long-distance transport missions in support of Air Force requirements, frequently sending aircraft to the Caribbean, Europe, Australia, Hawaii, Japan, the Philippines, and during the Vietnam War, to both South Vietnam, Okinawa and Thailand. in 1966, MATS was replaced by Military Airlift Command,

Part of the 137th Wing mission was a specially equipped C-97E, 51-224, the "Miss Oklahoma City" also known as the "Talking Bird". From 1961 though 1963 the aircraft was used as an airborne command post to maintain constant secure communications between the nation's capital and President John F. Kennedy during his visits to foreign countries.

The C-97s were retired in 1968 and the wing was re-equipped with C-124C Globemaster II heavy transports. The Group continued to fly long-distance intercontinental airlift flights until the Globemasters were retired in 1975.

In 1975 the 137th Military Airlift Wing became the 137th Tactical Airlift Wing when it was re-equipped with the C-130A Hercules tactical airlifter. In June 1979 its 185th Tactical Airlift Squadron was the first Air National Guard unit to receive C-130H aircraft, receiving new aircraft direct from Lockheed.

In subsequent years the wing served in humanitarian missions worldwide. During the 1990s it provided Counter-drug support coordinated through the Oklahoma Bureau of Narcotics and Dangerous Drugs. As of mid-2001, numerous drug enforcement operations have resulted in the destruction of 7.2 million marijuana plants, estimated 4.1 billion dollars in destroyed drugs, 814 arrests, 165 seized weapons, and 1.1 million dollars in currency and assets seized.

Following the Oklahoma City bombing in April 1995, Air Guardsmen provided site security and medical, rescue, and recovery personnel, assisting in every aspect of the disaster rescue and recovery effort.

The 137th Airlift Wing provided operational support during the 1991 Gulf War, and contributed logistical assistance in Bosnia in the late 1990s. Personnel from the 137th Airlift Wing aided New Mexico ranchers faced with livestock devastation after severe winter storms covered the grasslands with snow. 137th aircrew delivered much needed hay to starving livestock, averting near disaster to New Mexico's livestock industry.

Beginning in February 2007, the 185th Air Refueling Squadron aircrews jointly operated the KC-135R Stratotanker aircraft at Tinker AFB with the aircrews of the Air Force Reserve 465th Air Refueling Squadron. In February 2008, the 137th Maintenance Group relocated to Tinker AFB and the two wings combined to maintain and operate 12 KC-135 Stratotankers until September 2014. Under this first ever association between the Air Force Reserves and the Air National Guard, the 507th Air Refueling Wing retained ownership of the aircraft and served as the "Host" in the association.